1. Field of the Disclosure
Among other things, this disclosure describes systems and methods for processing large volumes of credit data and other data received from a number of data sources, and providing credit-related products and other products based on the processed data.
2. Description of the Related Art
Credit data may be maintained by a credit bureau or similar entity. Credit data maintained by a given credit bureau may include account data for millions or even billions of customers, where each customer identified in the data may have one or more accounts. The credit data may be based on several sources of data which include existing trade data, new trade data, inquiries, public record data (for example, bankruptcy filings), change of address data, and so forth. A common type of credit data is “tradeline data” (or trade data). Tradeline data may be an entry by a credit grantor to a consumer's credit history which is maintained by a credit reporting agency. A tradeline describes the consumer's account status and activity and can include names of companies with which the applicant has accounts, dates the accounts were opened, credit limits, types of accounts, account balances, payment histories, and/or other data.
In the United States, for example, multiple credit bureaus are constantly receiving data from a large number of data sources, including, for example, banks, creditors and other account providers. The credit bureaus use the data, among other things, to provide credit reports, credit scores and other credit-related products or services to consumers and businesses. The systems of a given credit bureau are typically tailored to specific legal and business requirements of the country or region in which the bureau operates, as well as the needs of its customers, which may have evolved over a long period of time. Accordingly, the systems of a typical credit bureau are not easily adaptable to comply with different business needs and/or legal regulations than those for which the systems are currently designed.